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Home/Loans

LOANS

LOANS

No matter what stage of life you're in, New Fadama Cooperative Credit Union is here to provide you with affordable financing solutions tailored to both your needs and budget. Whether you're planning for a major purchase, managing unexpected expenses

Explore our Loan Options

General Loans

Savings Loan

Get it now

Effective Annual Interest Rate is 7% - 10%

Get up to 110% of your savings balance as loan

  • Active savings deposit for 3 months
  • Must meet the minimum shares deposit requirement of GHS 200.00
  • No guarantor required
  • Maximum repayment period is 2 years (24 months)
Apply now

Normal Loan
(Double Your Savings)

Annual Interest Rate is 15% - 17%

Get up to 210% of your savings balance as loan

Benefits of Account:
  • Active savings deposit for 6 months
  • Guarantor may be required within NEFCCU
  • Must meet the minimum shares deposit requirement of GHS 200.00
  • Maximum repayment period is 2 years (24 months
Apply now

Trader’s loan

Annual Interest Rate is 21% - 28%

You get up to 600% of your savings balance as loan

Benefits of Account:
  • Active savings deposit for 6 months
  • Must meet the minimum shares deposit requirement of GHS 200.00
  • Guarantor may be required within NEFCCU
  • You must have an active trader’s savings account
  • Maximum repayment period is 2 years (24 months)
Apply now

Special Loan

Annual Interest Rate is 21% - 28%

You get up to 600% of your savings balance as loan

Benefits of Account:
  • Active savings deposit for 6 months
  • Must meet the minimum shares deposit requirement of GHS 200.00
  • Guarantor may be required within NEFCCU
  • Maximum repayment period is 2 years (24 months)
Apply now

Welfare Loans

Hospitalization Loan

Annual Interest Rate is 4% - 13%

You get up to 300% of your savings balance as loan

Benefits of Account:
  • All welfare loans enjoys up to 40% discount on interest rates
  • Must be for a member’s personal welfare need.
  • Guarantor may be required within NEFCCU
  • You must have an active trader’s savings account
  • Maximum repayment period is 2 years (24 months)
Apply now
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